BP Starts Up Devenick Gas Project
BP confirmed Thursday that it has successfully started up its $1 billion Devenick gas project in the central North Sea. Devenick is a high-pressure, high temperature (HPHT) gas condensate field.
The project is a subsea tie-back to Marathon Oil's East Brae platform. Production from the field is expected to peak in 2013 at 100 million cubic feet of gas per day.
UK Energy Minister John Hayes commented in a statement:
"As winter approaches, BP's announcement is very warmly welcome. When the Devenick project comes on full stream it will add an extra three percent to current UK gas production – enough to supply the equivalent of more than half a million homes a year."
"The majority of this project's GBP 650 million investment has benefited UK companies, and it is only because of the expertise of our world class subsea sector that this project is technically possible."
BP estimates that around $800 million of work was created for the UK supply chain by the project. The project provided work for oilfield services specialist Technip, among others.
BP holds an 88.7-percent interest in the project, with RWE Dea UK holding the remaining 11.3 percent.
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